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The Bitcoin market continued its downward trend yesterday. After hitting a high of 116930 in the morning, Bitcoin faced pressure and fell back, continuously declining throughout the day, reaching a low of around 112700 at midnight. In the early hours, Bitcoin briefly touched the high of 116930 but then faced selling pressure and continued to drop, hitting a low of around 112700 by midnight. The daily fluctuations were significant, and market sentiment was relatively cautious. From the current market status, Bitcoin shows a noticeable weak trend overall. The intraday price keeps reaching new lows, clearly establishing a downward trend and sending strong bearish signals to the market. In terms of market movement, bearish forces dominate, while bulls remain suppressed. Every time there is a price rebound, it seems weak and struggles to form effective reversal signals, indicating that bulls lack sufficient momentum to reverse the current downward trend. Considering various market factors, it is advisable to adopt a 'sell on rebound' strategy, waiting for the price to rebound near significant resistance levels before entering short positions.
DOGE-2.28%
SOL-2.22%
GT3.5%
BTC-0.98%
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BullAndBearBattlevip
· 08-20 02:01
Sit tight and hold on, we are about to To da moon 🛫
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